Based on an article regarding applications for FHA Loans, good news if you provide FHA loans! The Federal Housing Administration (FHA) is offering a streamlined program to borrowers with loans endorsed before June 1, 2009 to pay reduced rates for upfront and annual insurance premiums. Principal and interest can be cut, or the borrower can refinance into a shorter-term loan. This has led to 102,640 refinance applications submitted to banks in June alone. This is more than triple the 34,000 from May. Income, employment and credit scores are not verified, nor are property appraisals required. Sounds like a smooth process and a great product for borrowers.